Jay McCanless

The share price of D.R. Horton, Inc. (NYSE: DHI) has appreciated 13.68 percent over the last year, reaching a high of $32.61 on December 29, 2015. Jay McCanless of Sterne Agee CRT has upgraded the rating on the company from Neutral to Buy, while raising the price target from $28 to $33....

Standard Pacific Corp. (NYSE: SPF) and Ryland Group Inc. (NYSE: RYL) announced a merger of equals Monday morning. The combination of the two companies will likely result in the fourth-largest home builder in the nation. In a joint press release, the companies announced the deal as an effort to...

Jay McCanless of Sterne Agee released a 2015 Housing outlook on Wednesday and sees a below consensus unit order growth in fiscal 2015 mainly due to concerns over the availability of mortgage credit. “We wrote extensively about the lack of mortgage availability for first-time/subprime borrowers in...

Jay McCanless of Sterne Agee downgraded shares of D.R. Horton, Inc. (NYSE: DHI) to Neutral from Buy with a price target lowered to $23 from a previous $25. McCanless lowered his average closing price growth assumptions to 2.4 percent year-over-year from a previous estimate of 7.9 percent following...

Jay McCanless of Sterne Agee on Wednesday released a preview for the homebuilder sector. Within the report, McCanless holds a generally bullish tone but does recommend investors exercise some caution. "Respect the seasonal trade but exercise caution," McCanless wrote referring to the...

In a report published Wednesday, Sterne Agee analyst Jay McCanless reiterated a Buy rating and $25.00 price target on D.R. Horton, Inc. (NYSE: DHI). In the report, Sterne Agee noted, “We reiterate our Buy rating on DHI. Today's announcement was a surprise as was the brevity of Mr. Tomnitz's...

In a report published Friday, Sterne Agee analyst Jay McCanless reiterated a Buy rating on Meritage Homes (NYSE: MTH), and raised the price target from $49.00 to $50.00. In the report, Sterne Agee noted, “We are raising our price target to $50 from $49 as we shift our valuation focus to FY15 and...

In a note released Monday morning, Sterne Agee analyst Jay McCanless commented on the housing sector's results for the month of May. McCanless pointed out that 90 percent of U.S. homeownership transactions are due to existing home sales. Additionally, he noted approximately 68.5 percent of...

In a report published Monday, Sterne Agee analyst Jay McCanless analyzed the Energy & Industrials Weekly-Local Housing Market. The analyst remarked that existing home sales represented approximately 90 percent of annual U.S. home ownership transactions and examined trends affecting pricing...

On Wednesday, Sterne Agee upgraded shares of Beazer Homes (NYSE: BZH) from Neutral to Buy ahead of the companies second quarter earnings release Thursday morning. In addition to the upgrade, analyst Jay McCanless raised “FY14E/FY15E EPS to $0.44/$13.69 from $0.38/$13.48 to reflect lower interest...

In a report published Monday, Sterne Agee analyst Jay McCanless reduced his rating on NVR (NYSE: NVR) from Buy to Neutral following the company's stock price exceeding the analyst's $1,150.00 price target. McCanless noted that this downgrade is a direct result from NVR's 9.2% increase since the...

In a report published Friday, Sterne Agee analyst Jay McCanless reiterated a Neutral rating and $40.00 price target on Lennar (NYSE: LEN). In the report, Sterne Agee noted, “We are reducing our FY14E/FY15E EPS to $2.24/$3.17 from $2.32/$3.31. These changes are strictly related to the conversion of...

In a report published Friday, Sterne Agee analyst Jay McCanless reiterated a Buy rating on D.R. Horton (NYSE: DHI). In the report, Sterne Agee noted, “We reiterate our Buy ratings on DHI, MDC, MTH, NVR, PHM, and RYL. Based on the positives of low competitive inventory, rising home prices, and...